Russian President Vladimir Putin signed a decree lifting all sanctions imposed on Libya, the Kremlin press service said in a statement Thursday.

"All state agencies, industry, trade, financial, transport and other companies and banks and organisations, all legal bodies and persons under the Russian Federation's jurisdiction must act on the basis of the fact that sanctions against Libya were lifted starting September 12, 2003," the decree said.

On September 12, the United Nations Security Council lifted UN sanctions on Libya imposed after the 1988 airliner bombing of US Pan Am flight 103 over Lockerbie, Scotland, which killed 270 people. (Albawaba.com)